First Half Results for FY2016Consolidated net profit22.6bln yen (+14.1% YoY, +6.1% v. plan) +1.3bln...

Copyright (c) 2016 Lawson, Inc. All rights reserved. 1

Lawson, Inc.October 13, 2016

First Half Results for FY2016(Six months ended August 31, 2016)


Financial Results for

First Half of FY2016

Yutaka YoshitakeChief Financial Officer


Earnings Summary: FY2016 1H

OP 31.7bln yen (-2.6bln yen YoY)Gross operating profit +10.3bln yen YoY

Existing-store sales* -0.9%(+0.3% YoY excluding ticket and other sales)Gross profit margin* 31.3% (±0.0% YoY)

SG&A expenses +13.0bln yen YoY(*Including over 2.0bln of the cost to reinforce product range)Advertising & Promotion +2.5bln yen Facility expenses (new stores, etc) +4.0bln yen

Major subsidiary firms

Consolidated OP 39.9bln yen (-5.0% YoY, +1.1% v. plan)+0.4bln yen v. plan: Sales slightly below target, but effective HQ-focused cost controls

Consolidated net profit 22.6bln yen (+14.1% YoY, +6.1% v. plan)+1.3bln yen v. plan: OP achieved target, unforeseen impact from tax effect accounting

OP 39.9bln yen (-2.1bln yen YoY)Recurring profit 38.3bln yen (-2.4% YoY)Non-operating loss (net) : 1.5bln yen (-0.2bln yen YoY)

Forex loss 0.6bln yenNatural disaster (2016 Kumamoto

earthquake) 0.7bln yen

Net profit 22.6bln yen (+2.7bln yen YoY)Special loss (net) : 2.5bln yen (-3.0bln yen)

Impairment loss 0.5bln yen (-4.1bln yen) Income taxes-current: -9.3bln yen (+2.3bln yen)

Tax effect of subsidiary liquidation +0.5bln yen*＊Existing-store sales & gross profit margin include Lawson and Natural Lawson combined operations

FY2016 consolidated OP target unchanged at 76.0 billion yen

Non-consolidated Consolidated

Seijo Ishii OP 3.3bln yen (+0.3bln yen YoY)Intl. operations OP -1.7bln yen (+0.2bln yen YoY)


“Creating Happiness and Harmony in Our Communities.”

Genichi TamatsukaChairman and CEO

Representative Director


Tender Offer by Mitsubishi Corporation

Aim / management vision

Outline of tender offer

経営体制・ガバナンス

As Lawson remains an independent company, we will continue being attentive to the stock market and reflect shareholder and investor perspective in our corporate decisions.

※Refer to news release dated September 16, 2015 for more details

Current ownership (common stock) = 34.4% Rise to 50% +100 shares Launch tender in January 2017, after completing anti-trust procedures Price of tender offer 8,650 yen per share of Lawson common stock

Strengthen operations through stronger collaboration

Raise Lawson’s corporate value Drive synergy through out value chain Leverage corporate network and human resource

Management structure / governance

Maintain current management structure(Genichi Tamatsuka / Sadanobu Takemasu)

Maintain independence and autonomy as a listed company, Nomination and Compensation Committee


Social and business environment

- Three large players occupy 90% market share- Tough competition with drug stores and super markets

The aim of 1000-Day Action Plan

- Scarcity of staff- Diversified store staff- Increasingly complex store operation- Encourage multiple store management

- Aging population- Increase in double income, small households- React to local needs- Decrease in number of retail stores

Convenience storeindustry

Change in market environment of FC

stores

Utilize cutting-edge IT technology and build next-generation systems


Become an essential part of community living

“One Lawson”Revolutionizing our operational system

“One Lawson”Revolutionizing our operational system

Stronger products

Stronger stores Stronger franchise support

Store development

Raw materials procurement,

production vendors

Products to support everyday life

Store productivity

Distribution & delivery

Product development Next-generation Lawson

Convenience-store Model

Store-based staff crews

1000-Day Action Plan - Overview


1000-Day Action Plan – FY2016 1HFY2016 1H Going forward

Stronger stores

Products/support for Everyday Living

Strengthen supermarket alternative and core CVS ranges by investing in new display cases and expanding products

FF, in-store kitchen/home delivery, and healthcare

Store development Overhaul new store opening frameworkEnsure stable new store openings and long-termfranchisees

Strongerproducts

Product development Review product development system and business processes

Full-fledged development of core food items, new products and services

Raw materials procurement,manufacturing

vendors

Promote SCI, reinforce mega-vendor policyBecome a true manufacturing retailer based on small commercial areas

Stronger franchise support

Store productivity Redefine operations with view to introducing new systems Introduce tables, point-of-salestore computers, etc.

Store-based staff crews Improve capacity development, instore staff hiring Standardize staff training,

reduce staff turnover

Distribution, delivery Launch Lawson distribution center

Sweeping review of distribution using visualization, etc.

Changecorporate

culture

Supervisor systemsAll business processes

Establish a set supervisor training systemBoost efficiency of company-wide business processes

Consistent initiatives to boost overall supervisor capability


Product rangeStrengthen product rangeacross all Lawson stores

Respond to customer’s daily need

Product powerStrengthen products froman everyday user perspective

Reinforce support for everyday life

- Become a community store that customers visit every day for their daily needs.- Expand customer base of working women and senior customers.- Respond to rising customer demand in the evening and night-time.


Stronger promotion

Franchise store supportDisplay case investment- Higher shelf gondolas- New flatbed freezers- More chilled food case

Help ensure full range ofdeli and daily prepared items


- TV advertising- Lawson market specials!

Capital investment

over 5 billion yenFranchise support + advertising

over 2 billion yen

approx. 8,000stores(End August 2016)

Expand product range

Boost visibility



Up 15%

More SKUs = less deviation of store level

Store number by SKUs

store

SKU

Aug, 2015

Aug, 2016

This chart shows indicates a rough picture of the trend.

Achieve significant improvement of product rangeWith better hardware at store and improved ordering systems

Better hardware Shift to higher shelves More freezer flatbeds

Active systems Tailor product mix to suit

individual stores with pre-planned ordering

3,500SKU


As a supermarket alternative

Offer product ranges that support all daily needsSatisfy growing CVS demand in the evening and night-time

Support everyday lifeCore CVS, over-the-

counter fast foodImprove ready made foodsExpand competitive over-the-counter fast food


Maximize semi-automatic and planned orders Reinforce store

operationsDigital Analog


Stronger Products

95%

100%

105%

1‐3月 4月 5月 6月 7月 8月

No. of items purchased

Product range support fuels large increase

Customer visits

95%

100%

105%

1‐3月 4月 5月 6月 7月 8月


Customer visits

Recovery trend from July

Supermarket alternative category Core CVS category

Existing-store sales （excluding ticket sales and others) up 0.3% y/y- Support everyday living by investing in new display cases and extending product ranges- Boost number of deli and daily-delivered items purchased in the supermarket alterative category

FY2016 1H Sales

Jan Apr May Jun Jul Aug-Mar



Supermarket Alternative Category

FY2016 1H sales

FY2016 2H sales strategy

Emerging strong y/y rising trend following investment in display cases and product expansion

- Delicatessen +14.0%（existing stores, y/y)- Daily-delivered foods +24.0%- Frozen foods +19.0％

-Expand Lawson Select product range-Satisfy evening/night-time demand with non-chilled FF (deli items)-Strengthen Natural Lawson brand(chilled drinks, pet food)-Expand Japanese sweets and other items to appeal to elder customers

95%

100%

105%

1‐3月 4月 5月 6月 7月 8月


Product range support fuels large increase

Gradual increasing in 3-4 months after expanding product ranges

Customer visits



1H sales struggle

2H product strategy

1H sales slump partly in comparison to buoyant 40-year anniversary year last year

- Offer strong lunchbox range (medium price range)- Offer more original light meals (soups, etc.)- Strengthen regular dessert items

CVS Category

Recovery from July- Adjust semi-automatic promotion logic- Optimize price bracket balance 95%

100%

105%

1‐3月 4月 5月 6月 7月 8月


Customer visits

Recovery trend from July



Over-the-counter Fast Food & In-store Kitchen

In-store KitchenOver-the-counter FF

Boost sales from current 40,000 to 50,000 yen/day in FY2017

Expand stores with kitchens from current 3,500 to 5,000 in fiscal 2017

Having strengthened products in the supermarket alternative category in 1H, we intend to further strengthen Lawson’s competitive over-the-counter fast food in 2H and boost the number of In-store Kitchens


Build next-generation systems to reform store operations and address challenges posed by complex, diverse CVS business, scarcity of staff

Reinforced support for franchise business

Revolutionizing store productivity

Planned orders

Ponta member purchase data

Reduce product shortages, minimize opportunity losses

Aid product development and forming of area-specific strategies

Semi-automatic ordersEnsure steady inventory of cooked snacks, eliminated discrepancies between stores

¥¥

Current Business devices are randomly placed, resulting in repeated trips between shop floor and back room

Future Concentrate all functions on one tablet, so all processes can be conducted from shop floor

ShopNew tablet-

based terminal

Back roomShop

Ordering terminal

Instore PC

Reports

Inventory setting

InspectionsInspection Orders

Inventory checks

Information analysis

Information analysisOrders

Inventory checks

Inventory setting

Example

iInitiative


Store-enhancing practical trainingManagement coachingStrong capacity building

SV function rulesCentral contact centerStore support deskStandardization, streamliningConsolidate HQ functions

Next-generation Lawson convenience-store model requires more sophisticated operational functions by SVs

Revolutionizing the work of supervisors

Increasingly diverse products

and servicesSatisfying broad everyday needs

Scarcity of staff, stronger staff crew

training

Encourage multiple store management

Create a completely new, uniform

SV skill-buildingsystem

Healthcare/medical items

Home-delivery, In-store Kitchen

Increasingly complex store

business

Sophisticated systems

New FC contracts

Individual growth Standardise the process

Boost overall SV capability


FY2016 Full-year Plan

*Lawson and Natural Lawson combined store total

FY2016 planPlan Y/Y

Parent

Existing-store sales* (y/y) +1.0% (1H:-0.9%*actual / 2H:+1.0%*plan)

Gross margin* (y/y) +0.2pp (1H:+0.0pp*actual / 2H:+0.3pp*plan)SG&A (y/y) +5% ～ +10%Operating profit 59.0bln yen +1.7bln yen/+3.1%

Cons-parent differential 17.0bln yen +1.7bln yen/+11.2%Consolidated operating profit 76.0bln yen +3.5bln yen/+4.8%Consolidated net profit 35.5bln yen +4.1bln yen/+13.1%

FY2016 1H Result : Consolidated OP and net profit achieved targetsFY2016 Full Year Target : Consolidated OP of 76.0 bil yen 2H estimates remain unchanged: Existing-store sales expected to rise 1.0% y/y and gross profit

margin to improve 0.3p y/y as positive impact from 1H expanded product range continues


Lawson commits to faithfully attend the stock market as an independent listed company, and reflect shareholder and investor opinion in its management decisions. Lawson commits to work closely with franchise store owners to ensure continued full customer satisfaction, and serve society as a community-based consumer lifeline.

Corporate Philosophy“Creating Happiness and Harmony in Our Communities.”


Reference


Earnings Summary: FY2016 1H

Operating profit down 5.0% YoY, but 0.4 billion yen or 1.1% above targetDespite a YoY contraction in existing-store sales generated by fierce competition, unseasonal weather and a large decline in ticket sales, non-consolidated operating profit outstripped forecasts following effective controlling of costs primarily at Lawson headquarters. Consolidated operating profit also outstripped forecasts thanks to a strong contribution from United Cinemas and other subsidiary firms.

Net profit +14.1% YoY (+6.1% above target)We had a significant fall in 1H impairment losses compared to the previous business year when we refined our impairment loss standards.

FY2014-1H FY2015-1H(Billions of yen) Actual Actual Actual YoY vs. Plan

Net sales for all stores 994.6 1,035.4 1,076.5 104.0% 99.7%Operating profit 40.0 42.0 39.9 95.0% 101.1%Operating profit ratio 4.0% 4.1% 3.7% ▲0.4%P +0.1%PRecurring profit 39.6 40.7 38.3 94.1% 100.7%Net profit 21.8 19.8 22.6 114.1% 106.1%EPS (Yen) 219.15 198.11 226.07 +27.96 106.1%Dividend per share (Yen) 120 122.5 125 +2.5 ±0

Total no. of stores in Japan 11,987 12,305 12,733 +428 +11

FY2016-1H

Consolidated

Note: Total chain store sales of FY2015-1H and FY2016-1H include sales from the convenience store operation in Japan, overseas operations and sales from SeijoIshii (consolidated items only). Regarding Seijo Ishii, only the sales of direcctly operated stores are included.Note: The number of stores of FY2015-1H and FY2016-1H is the total number of convenience stores in Japan operated by the Lawson Group plus the number ofdirectly operated Seijo Ishii stores.


Existing-store sales down 0.9% YoY on unseasonal weather, and falling ticket sales (fewer large public events compared to the previous year). Existing-store sales excluding ticket and other sales rose 0.3% YoY.

Gross profit margin excluding cigarettes declined 0.1pp YoY on falling ticket sales. Gross profit margin held steady YoY at 31.3% with cigarettes contributing a shrinking proportion of total sales.

＜FY2016 1H＞Gross profit margin flat YoY

Existing store sales down 0.9%(number of customers down 0.9%, spending per customer down 0.1%)

Existing Stores (Non-consolidated*) *Lawson and Natural Lawson combined store total


Store Openings (Non-consolidated*) *Lawson and Natural Lawson combined store total

(Net store increase) (Daily new store sales in 1,000 yen)

425

213

212

425 new store openings as planned (including 73 franchise stores from Save On and other chains) Closed 18 fewer stores than originally planned. Net increase in stores 18 stores higher than planned

as a result.New-store daily sales steady YoY at 497,000 yen.


Key Components of SG&A Expenses

Consolidated

Non-consolidated

Compared to Fiscal 2015 Compared to Plan

Consolidated

Non-consolidated

A&P: Stronger efforts to support everyday living resulted in higher franchise store product range support expenses.

Others: Higher store numbers resulted in increased HQ expenses, as HQ assumed a portion of franchise-stores costs under new franchise contracts.

In additional to non-consolidated factors, consolidated expenses also rose on expansion of Lawson ATM networks, and increased stores numbers at Seijo Ishii and overseas subsidiary firms.

2.9 billion yen below plan. In addition to non-consolidated factors, the stronger yen reduced SG&A expenses at our China-based subsidiary firms in yen terms.

1.4 billion yen lower than expected on effective cost controls primarily at HQ. HQ cost burden down on efficient use of franchise-store product range support funds. Lower electricity unit prices reduced HQ electricity payment burdened under new franchise contracts.

FY2015-1H FY2016(Billions of yen) Actual Actual Change vs.Plan Forecast

Selling, general & administrative expenses 120.7 133.7 +13.0 ▲ 1.4 Increase 5-10%

＜Major Expenses＞Personnel expenses 19.3 20.7 +1.3 ▲ 0.1 Increase 5-10%IT-related expenses 4.9 4.6 ▲ 0.3 ▲ 0.3 Decrease 0-5% (Hardware leasing, software amortization, maintenance, etc.)Advertising and promotional expenses 5.1 7.6 +2.4 ▲ 0.5 Increase 10-15%Facilities expenses 67.1 71.1 +4.0 ▲ 0.1 Increase 5-10%

171.8 186.2 +14.3 ▲ 2.9 Increase 5-10%Note: Figures in italic indicate the revised figures from the initial plan.Consolidated SG&A expenses

FY2016-1H

Non-consolidated


Earnings of Major Subsidiaries

Lawson Store100 Favorable recovery in sales with existing-store sales rising 1.2% YoY. The subsidiary turn a profit, even after incorporating the operating loss recorded on non-consolidated accounts.

SEIJO ISHIIOperating profit expanded further in FY2016 on strong sales and new store openings. Fiscal 2016 includes 14 months of performance, owing to plans to change the subsidiary firm’s fiscal year-end from December to February to align with Lawson parent.

Lawson HMV Entertainment Operating profit down due to higher depreciation on new ticket systems.

United CinemasOperating profit increased sharply thanks to numerous hit movies. Also, the decision taken in FY2015 to shift United Cinema’s fiscal year end to February meant that the 1H of FY2016, which spanned the March- August period including the summer holiday, is being compared to the less active January-June period of the previous year.

Lawson ATM Networks

Revenue up on higher ATM installations and steady YoY ATM transaction volume, but profit down slightly on costs relating to introduction of new-style ATM machines.

(Billions of yen)

Operating Profit of Major Subsidiaries FY2016FY-end Ownership Actual YoY change Forecast

Lawson Store100, Inc. Feb. 100.0% 0.37 +0.25 0.80SEIJO ISHII CO., LTD. Dec. 100.0% 3.31 +0.35 7.60Lawson HMV Entertainment, Inc. Feb. 100.0% 0.97 ▲ 0.72 2.10Lawson ATM Networks, Inc. Feb. 76.3% 3.24 ▲ 0.05 6.00United Cinemas Co., Ltd. Feb. 100.0% 1.60 +0.80 2.00Chongqing Lawson, Inc. Dec. 100.0% ▲ 0.25 +0.20 ▲ 0.40Shanghai Hualian Lawson, Inc. Dec. 94.0% ▲ 0.64 +0.11 ▲ 0.40

FY2016-1H

Note: Figures in italic indicate the revised figures from the initial plan.Note: Lawson Mart, Inc. has changed its name to Lawson Store100, Inc. since March 2016.Note: United Cinema’s fiscal year end to February meant that the 1H of FY2016, which spanned the March- August period including the summer holiday, is being compared to the less active January-June period of the previous year.


Cash Flows and Capital Expenditure (Consolidated)Consolidated Capital Expenditures

Consolidated Cash flows

Leases increased sharply YoY following aggressive refurbishment of existing stores designed to help satisfy customers’ broad everyday needs.

（Billions of yen）

FY2014-1H FY2015-1H FY2016-1H FY2016Actual Actual Actual Plan

New stores 21.3 18.2 16.8 51.5Existing stores 2.9 2.4 3.3 10.0IT-related 2.4 8.7 7.6 18.0Other 0.8 0.4 0.9 1.0Subtotal for capital expenditure 27.5 29.7 28.8 80.5Leases 18.2 20.9 25.1 56.0Depreciation and amortization 19.9 23.8 26.9 59.3

（Billions of yen）

FY2014-1H FY2015-1H FY2016-1H FY2016Actual Actual Actual Forecast

Cash flows from operating activities 92.1 92.6 91.4 Approx. 120.0Cash flows from investing activities ▲ 38.2 ▲ 33.2 ▲ 28.9 Approx. ▲85.0Free cash flows 53.8 59.3 62.4 Approx. 35.0Cash flows from financing activities ▲ 8.6 ▲ 24.1 ▲ 27.7 Approx. ▲55.0(Cash dividends paid) ▲ 10.9 ▲ 11.9 ▲ 12.2 Approx. ▲25.0

Cash and cash deposits 113.7 112.1 104.0 -


FY2016 Company Forecasts (Consolidated )

Maintain FY2016 full-year consolidated operating profit target of 76.0 billion yen. Full year existing-store sales expected to rise just enough to compensate for the sharp 1H decline (2H forecast remains unchanged). Plan to continue pursuing strategies implemented in the 1H to help achieve full-year OP target of 76.0 billion yen.

FY2014 FY2015(Billions of yen) Actual Actual Plan YoYNet sales for all stores 1,961.9 2,049.5 2,180.0 106.4%Operating profit 70.4 72.5 76.0 104.8%Operating profit ratio 3.6% 3.5% 3.5% ▲0.1%PRecurring profit 71.7 69.6 73.0 104.9%Net profit 32.6 31.3 35.5 113.1%EPS（Yen） 327.08 313.81 354.95 41.14Dividend per share (Yen) 240 245 250 +5ROE 13.0% 12.0% 13.2% +1.2%P

Total no. of stores in Japan 12,383 12,515 13,229 +714(Non-consolidated*) *Lawson and Natural Lawson combined store total

Gross profit of existing stores (YoY) 100.0% 101.3% 100.6% -Net sales of existing stores (YoY) 99.0% 101.4% 100.1% -Gross profit margin ratio 31.3% 31.3% 31.5% +0.2%PGross profit margin difference excluding cigarettesales (YoY) ±0.0%P ▲0.5%P ±0.0%P +0.5%PNote: Figures in italic indicate the revised figures from the initial plan.Note: Total chain store sales includes sales from the convenience store operation in Japan, overseas operations and sales from SeijoIshii (consolidated items only). Regarding Seijo Ishii, only the sales of direcctly operated stores are included.Note: The number of stores is the total number of convenience stores in Japan operated by the Lawson Group plus the number of directlyoperated Seijo Ishii stores.

FY2016 Forecast


Half Year Breakdown of FY2016 Forecast (Consolidated)

(Billions of yen)

(Consolidated) 1H Initial Plan 1H Actual 2H Plan Full-Year PlanNet sales for all stores 1,080.0 1,076.5 1,103.4 2,180.0Operating profit 39.5 39.9 36.0 76.0Operating profit ratio 3.7% 3.7% 3.3% 3.5%Recurring profit 38.1 38.3 34.6 73.0Net profit 21.3 22.6 12.8 35.5

Gross profit of existing stores (YoY) 102.0% 99.2% 102.0% 100.6%Net sales of existing stores (YoY) 101.0% 99.1% 101.0% 100.1%Gross profit margin ratio 31.6% 31.3% 31.7% 31.5%

FY2016 Forecast

Note: Figures in italic indicate the revised figures from the initial plan.Note: Note: Total chain store sales includes sales from the convenience store operation in Japan, overseas operations and sales from Seijo Ishii(consolidated items only). Regarding Seijo Ishii, only the sales of direcctly operated stores are included.

(Non-consolidated*) *Lawson and Natural Lawson combined store total


First Half of FY2016 Balance Sheet (Consolidated)

(Billions of yen)

As of Aug. 31, 2016 Change fromFeb. 29, 2016 As of Aug. 31, 2016 Change from

Feb. 29, 2016

Total current assets 279.0 +54.8 Total current liabilities 373.0 +53.4 (Cash and deposits) 104.7 +34.9 (Accounts payable-trade) 133.0 +20.7

(Accounts receivable) 86.5 +18.8 (Deposits payable) 124.3 +22.4Total noncurrent assets 594.7 +15.7 Total noncurrent liabilities 220.2 +9.6

Property, plant and equipment 320.4 +17.6 (Long-term loans payable) 56.9 ▲0.5Intangible assets 86.2 +1.6 Net Assets 280.4 +7.4

(Goodwill) 44.8 ▲ 1.4 (Common stock) 58.5 -Investments and other assets 188.0 ▲ 3.5 (Retained earnings) 163.8 +9.2

(Long-terms loans receivable) 41.7 +0.8(Guarantee deposits) 93.4 +0.9

Total Assets 873.7 +70.5 Liabilities and net assets 873.7 +70.5


FY2016 1H Performance by Group Segment

(Billions of yen)

Sales ratio YoY Sales ratio YoY Sales ratio YoYNet sales for all stores 1,006.4 100.0% 103.9% 22.2 100.0% 90.6% 33.5 100.0% 106.9%

Gross operating revenue 191.3 19.0% 107.6% 24.5 110.7% 90.5% 36.0 107.4% 107.4%Gross operating profit 176.0 17.5% 106.6% 7.2 32.7% 86.0% 13.8 41.3% 108.0%

SG&A expenses 143.0 14.2% 111.0% 6.8 31.0% 82.7% 10.9 32.5% 106.6%Operating profit 32.9 3.3% 91.0% 0.3 1.7% 331.6% 2.9 8.8% 113.6%

(Billions of yen)

Sales ratio YoY Sales ratio YoY Sales ratio YoYNet sales for all stores 14.3 100.0% 129.7%

Gross operating revenue 35.7 104.3% 11.4 79.9% 122.0% 13.3 102.3%Gross operating profit 17.6 100.7% 3.9 27.3% 134.7% 13.3 102.3%

SG&A expenses 15.3 97.5% 5.6 39.5% 116.6% 10.1 105.2%Operating profit 2.2 129.4% ▲ 1.7 ▲12.1% 89.5% 3.1 94.0%

Note: The Japan convenience-store business combines business results from the Lawson parent and SCI, Inc.Note: The Lawson Store100 business refers to the business results of Lawson Store100, Inc.Note: The Seijo Ishii business refers to the business results of Seijo Ishii Co., Ltd. Note: The Entertainment business combines the business results of Lawson HMV Entertainment, Inc. and related consolidated subsidiaries such as United Cinemas Co., Ltd., etc. Note: The International business combines the business results of overseas consolidated subsidiaries such as Lawson (China) Holdings, Inc., Shanghai Hualian Lawson, Inc. and Chongqing Lawson, Inc.Note: Other business combines the business results of financial-service related subsidiaries such as Lawson ATM Networks, Inc. and consulting firm BestPractice Inc.

Japan convenience-store business Lawson Store100 business Seijo Ishii business

Entertainment business International business Other business


Cautionary StatementThis presentation contains forward-looking statements and forecasts regarding the future plans, strategies and performances of Lawson and its subsidiaries and affiliates. These statements and forecasts are not historical facts. They are expectations based on assumptions and beliefs derived from information currently available to the Company and are subject to risks and uncertainties including, but not limited to, economic trends, heightened competition in the domestic convenience store sector, personal consumption, market demand, the tax system and other legislation. As such, actual results may differ materially from estimates.Figures in this presentation have been rounded down.

Cautionary StatementThis presentation contains forward-looking statements and forecasts regarding the future plans, strategies and performances of Lawson and its subsidiaries and affiliates. These statements and forecasts are not historical facts. They are expectations based on assumptions and beliefs derived from information currently available to the Company and are subject to risks and uncertainties including, but not limited to, economic trends, heightened competition in the domestic convenience store sector, personal consumption, market demand, the tax system and other legislation. As such, actual results may differ materially from estimates.Figures in this presentation have been rounded down.

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First Half Results for FY2016Consolidated net profit22.6bln yen (+14.1% YoY, +6.1% v. plan) +1.3bln...

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